Published: 2025-01-03T09:28:10.000Z
Chart USD/CHF Update: Choppy at highs
Senior Technical Strategist
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Cautious trade around 0.9050 has given way to a sharp USD- and CHF-driven bounce
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 0.9245 | ** | October 2023 high | S1 | 0.9050 | * | congestion | |
| R3 | 0.9224 | * | 1 May 2024 (y) high | S2 | 0.9000 | ** | congestion | |
| R2 | 0.9150 | * | congestion tops | S3 | 0.8950 | * | congestion | |
| R1 | 0.9100 | ** | break level | S4 | 0.8900 | * | congestion |
Asterisk denotes strength of level
09:15 GMT - Cautious trade around 0.9050 has given way to a sharp USD- and CHF-driven bounce, with prices reaching 0.9135 before settling back below 0.9100. Intraday studies are turning down and overbought daily stochastics are flattening, suggesting room for a pullback towards congestion support at 0.9050. But the positive daily Tension Indicator and rising weekly charts are expected to limit any deeper losses in fresh buying interest above 0.9000. Meanwhile, a close above 0.9150 will turn sentiment positive and extend September gains towards strong resistance at the 0.9224 year high of 1 May 2024.